News

The Earl of Harrington

Viscount Petersham - or Pete to his friends - succeeded to the title 12th Earl of Harrington after his father died aged 86 in Ireland earlier this month. But it was Lord Linley, Petersham's son-in-law, who was in the news in the summer of 2006 over his decision to sell the treasured possessions of his late mother, Princess Margaret, which raised £14m. This was four times the estimate and enabled Linley to easily meet his inheritance tax obligations. But critics suggested he did not need to undertake the sale and should have simply approached his father-in-law for help. Harrington, 63, is the former owner of some prime acres in South Kensington around Stanhope Gardens. The net assets of his two main companies, Elvaston Investments and Stanhope Gardens, came in at about £6.8m in 2007. But with some hefty spending after property